Global and Regional MarketsNewsThe Offshore Frontier

Borr Drilling secures $82 million for jackups in Thailand, Southeast Asia

Borr Drilling announced new contract commitments totaling 495 days and $82.2 million in contract revenue for three of its premium jackups, excluding mobilization and demobilization compensation.

The first contract, with BW Energy, was an extension for the Norve by approximately two months through July 2024. Additionally, the Mist jackup secured a contract extension from a subsidiary of Valeura Energy in Thailand. The contract extension covers a firm term of 12 months starting in direct continuation to the current contract and will maintain the rig contracted through August 2025.

Lastly, the Thor has received a binding Letter of award from an undisclosed customer for work in Southeast Asia. This award will cover a firm scope of two wells, with an anticipated duration of 70 days, and is expected to commence in Q3 2024 in direct continuation of its current commitment.

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